There are many different aspects of your health and habits that are taken into consideration when you have a health insurance policy underwritten. These factors work together to create the general risk that you life presents to the insurance company. It is not until all these factors are considered that your insurer can determine whether or not to issue your policy and what premiums to charge. Here are some of the main factors that health insurance underwriters consider when reviewing your health insurance application for approval.

Your medications: The medications you take give a tremendous insight not only on the prior events of your health history, but also on what your doctor thinks might be in the future. For instance, you might not have had a heart attack yet but if your doctor has you on a cholesterol medication, then it is likely that he or she thinks you may be at risk for one in the future. That indicates to a health insurance underwriter that you could be a risky bet.
Read the rest of this entry »

What happens when the gulf oil comes ashore?

There is a sad fact of life when it comes to dealing with insurance companies. You should read all the small print before you buy a policy and, if you are surprised at how the insurer decides to interpret the policy when you make a claim, you must be ready with an attorney. Telling it as it is: insurance companies like to make a profit. If they have to pay out too many big claims, their profit starts getting small. That gives them an incentive to keep finding new ways to avoid paying out. When Hurricane Katrina hit the Mississippi Gulf Coast, home owners discovered their policies covered storm damage, but limited or excluded claims arising from flooding. The cause of much of the damage was a storm surge where the wind drove the water to higher than usual levels. The issue for the courts was whether the resulting damage was covered as storm damage or excluded as flood damage. The practical reality was that, for the people whose homes were damaged, the precise cause and effect mattered little. They had lost their homes. For the insurance companies, the courts were deciding claims worth billions of dollars. Needless to say, the courts at state and federal levels gave often wildly different interpretations and produced very different results. That is what happens when vast numbers of people line up to sue multiple defendants. Some win. Some lose.
Read the rest of this entry »

When buying things, no matter whether it’s a car or a new TV, you want to get the best quality for the lowest price. And when it comes to insuring your vehicle the rule remains the same. And it’s especially important with the recession thinning our wallets and making us count every dollar we spend on everything. When it gets to cutting costs most people think about insurance first. People feel that they are paying too much for insuring their houses, health or cars. And while house insurance can be dropped, insuring your vehicle is mandatory and driving without insurance will cost you a lot. Luckily for those who want to cut their insurance costs, there are ways you can cut down your expenses without dropping off coverage at all. Of course, the effectiveness of these solutions depends on the company you get insurance from and the type of car you drive. But in the end, when using all the tips provided, you will be able to save quite a lot of money and use them for other purposes you need. So here are simple and effective ways of cutting down your costs during recession

Tip 1 – Bundle up insurance policies
Read the rest of this entry »